Noreco: Underwritten RBL Increase to USD 1.1 Billion and Maturity Extension
Oslo, 2 February 2021: Norwegian Energy Company ASA (“Noreco” or the “Company”) announces that it has entered into an underwriting agreement with five banks for a USD 1.1 billion Reserve Base Lending facility (the “RBL” or the “facility”) with a seven-year term and maturing in 2028. As a result of this, the Company will have a strong financial position as it progresses the Tyra Redevelopment project with amortizations scheduled to commence from the second half of 2024. The USD 200 million increase in the RBL facility and two-year maturity extension will further reinforce the Company’s